Short Interest in National Australia Bank Ltd. (OTCMKTS:NABZY) Increases By 124.8%

National Australia Bank Ltd. (OTCMKTS:NABZY) was the recipient of a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 63,523 shares, a growth of 124.8% from the July 30th total of 28,257 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 267,097 shares, the days-to-cover ratio is currently 0.2 days.

National Australia Bank Price Performance

NABZY stock opened at $13.66 on Monday. The business has a 50 day moving average of $13.88 and a 200 day moving average of $14.54. National Australia Bank has a twelve month low of $12.41 and a twelve month high of $18.13.

Wall Street Analyst Weigh In

Separately, National Bank Financial raised shares of National Australia Bank from a “neutral” rating to a “buy” rating and set a $42.50 target price on the stock in a report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, National Australia Bank has an average rating of “Moderate Buy” and a consensus price target of $42.50.

National Australia Bank Company Profile

National Australia Bank (OTCMKTS: NABZY) is one of Australia’s largest banking groups, offering a broad range of financial services to retail, small business, corporate and institutional customers. Its core activities include personal and business banking — such as deposits, home and business lending, credit cards and payment services — as well as wealth management, insurance, markets and specialist lending. The bank provides transaction and cash management solutions, financing and advisory services to corporate clients and institutional investors.

Headquartered in Melbourne, NAB traces its corporate origins to a 1982 merger between the National Bank of Australasia and the Commercial Banking Company of Sydney, with precursor institutions dating to the 19th century.